Refer to Figure 9.9. Now suppose an import quota of 3000 trucks ...

[yoooooman]

Refer to Figure 9.9. Now suppose an import quota of 3000 trucks is imposed.
 
  If the government wanted to cut off all international trade without changing the quota, it could allow the quota amount of 3000 trucks in at no tariff and then charge a tariff on all imports above the quota amount. What tariff would accomplish the goal? A) 0.
  B) 5,000
  C) 7,500
  D) 10,000
  E) 20,000

Question 2

Which of the following equations based on capital (K) and labor (L) inputs does not represent a plausible production function?
 
  A) F(K,L) = 3KL
  B) F(K,L) = 3K
  C) F(K,L) = K + L - 1
  D) F(K,L) = 10(KL)0.5

[ebenov]

Answer to Question 1

B

Answer to Question 2

C

[yoooooman]

Thanks for the timely response, appreciate it

[kthug]

Great answer, keep it coming